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Profit of Israel's Delek jumps amid gas discoveries
Last Updated: 2014-04-01 10:33 | Xinhua
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Profits of the Israeli energy conglomerate Delek Group jumped 60 percent in 2013, as a newly discovered natural gas field started to manufacture last March.

Delek Group develops Tamar together with Texas-based Noble Energy, and holds energy, insurance and biochemical subsidiaries.

The group's full-year profit amounted to 740 million shekel ( about 211 million U.S. dollars), compared with a profit of 464 million shekel (about 132 million dollars) last year.

Profits from the gas production unit for 2013 was 70 million shekel (about 20 million dollars), a more than triple increase compared to 2012. The growth was mainly due to the increase in revenues from the Tamar project.

Found in 2009, the Tamar field has an estimated 10 trillion cubic feet (TCF) of natural gas.

The Tamar and Leviathan, a 19 TCF natural gas discovery off the northern coast of Israel, has signed some tens-billion-worth deals with the local market to supply gas for the production of electricity, and later also inked contracts with Jordan and the Palestinian Authority for gas exports.

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